Huaren Capital had entered the Philippines’ business territory to expand its crypto mining business. But the Chinese firm has found another purpose on the sideways. The crypto giant plans to launch a digitized version of Philippino Peso called “Digital Peso” in the first half of 2019, reported Inquirer. The coin, whose per unit value would

A decentralized application (dApp) based on the Ethereum (ETH) network will begin rewarding residents of Manila, the Philippines, with ETH for cleaning up a heavily polluted beach in the capital city of the nation. Joseph Lubin, an Ethereum co-creator and the CEO of ConsenSys, the largest blockchain software development firm in the world, said: “In

The Bureau of Immigration of the Philippines had ordered the deportation of a South Korean national who is wanted in South Korea over his involvement in a bitcoin pyramid scheme. Identified as Go Yongsung, the South Korean was arrested in the city of Las Pinas. According to Jaime Morente, a Bureau of Immigration Commissioner, the

The head of the Philippines’ Securities and Exchange Commission (SEC) is targeting draft rules for domestic cryptocurrency exchanges within weeks ahead of finalizing regulations later this year. Cryptocurrency exchanges in the Philippines could soon operate as regulated trading platforms as authorities proactively seek to both protect investors and enable an inclusive ecosystem for cryptocurrencies to

The Philippines, Thailand, and South Korea are moving towards creating the next crypto valley, after recognizing the success of Malta and Zug, Switzerland in creating crypto and blockchain friendly environments. Most countries in Southeast Asia, including Vietnam and Thailand, have cracked down on crypto trading and blockchain-related developments over the past year. A few months

Chinese exchange Huobi and its partners are launching cryptocurrency exchanges in five regions: the Philippines, Russia, Taiwan, Indonesia, and Canada. Partners “share Huobi’s order integration system, wallet system, asset management and clearing systems.” The exchange in Manila has launched with trading in three markets with over 40 trading pairs.

The Philippines government is building Crypto Valley of Asia, a cryptocurrency and fintech hub similar to the one in the canton of Zug, Switzerland. The estate will be built at the Cagayan Special Economic Zone and Freeport in partnership with private property developer Northern Star Gaming & Resorts Inc. The zone is already set to accommodate 25 crypto firms that will operate within the area.

The central bank of the Philippines has reportedly approved two new cryptocurrency exchanges, bringing the total number of accredited crypto exchanges in the country to five. Meanwhile, crypto transactions have been growing in the country.

Philippines will move to allow the operation of 10 virtual currency and blockchain companies in its economic zone. By doing so, it provides them with a wide leeway for improvement as they’d be able to take advantage of certain tax benefits.

In an attempt to generate employment and drive the country’s economy forward, the Government of the Philippines announced that it’s giving the go-ahead to 10 cryptocurrency and blockchain companies to take full advantage of the tax perks and other benefits by operating within its economic zone.

After hemming and hawing in its strange relationship with cryptocurrencies and the businesses they imply, the Philippine government decided to make room for a set aside economic zone. The scheme is offered in hopes of generating more tax income, employment for its people, and perhaps a dedicated crypto university.

Initial coin offerings (ICOs) can easily net millions of dollars from enthusiastic investors, but a number of countries are starting to regulate them. The Philippines is the latest country to join this growing club.

The vast surge in cryptocurrency value and popularity, especially Bitcoin, over the last couple of years took many sovereign governments and major financial institutions by surprise. The blockchain has led to a massive explosion in platforms, each looking to generate revenue through a token sale. While slow to react to this new phenomenon, a number of countries are starting to regulate these initial coin offerings (ICOs), and the Philippines is the latest one to join this list. Read more...

One of Bitcoin’ s main selling points is the fact they can easily take on the remittance market and save all parties involved a lot of money. However, to this day, very little is done to actively tackle the remittance market dominated by companies such as Western Union, with ludicrous fees to boot. Rebit, the remittance product of Satoshi Citadel Industries, has launched their targeted remittances for their customers.